Get the highest retirement income by comparing annuity firms
A stable retirement is a one thing we all want to enjoy once we halt our working lives. One aspect which will determine your level of enjoyment is the amount of money you are receiving from an annuity.
Company workers from this industry find this remarkable as finding the best annuity option can lead to income increases as high as 40% or more. As you can observe, this is a considerable amount of extra income.
The foremost question that many retirees ask themselves is... where does ones go to nail down? There are a number of places to start when looking for the best annuity such as... the company you built the fund with, financial advisers or an annuity broker. These choices each have various charges applicable to them, so be in no doubt you choose the most suited option for your situation.
You might think that this sounds like a lot of hard work on your part, but procuring the correct help is vital when looking for an annuity. If you don't compare UK annuity firms you might miss out on a better income in retirement. Many UK annuitants are now rueing the fact they failed to compare annuities.
A section of these annuity customers will have also been permitted to apply for an enhanced annuity, which could have the result of them now missing out on a higher retirement income. It should be recorded however that the 35% rate increase is only offered to those who have had a history of medical conditions. There are a number of conditions which can entitle better rates such as heart attacks, Emphysema and Angina.
You might be saying to yourself.... 'I have never suffered a heart attack'. Even if this is affirmative you might still be entitled to an enhanced annuity due to other reasons. It is not unusual to be given enhanced rates if you can prove you smoke cigarettes, cigars or a pipe on a regular basis. The lesson here is that you must inform your annuity company of anything which could impact on how long you will live.
The reason why the annuity company can offer better rates is that they will pay an income for a fewer number of years. It is also worth mentioning that better annuity rates can be paid if the elderly person has had some or all of the following conditions liver transplant, muscular problems or arthritis. As you can see it is plainly obvious there are hundreds of possible medical problems which could lead to higher rates.
So to make sure you don't miss the chance of receiving a bigger annuity income, contrast annuity providers now - it may be the most significant decision you make.
Source: Free Articles from ArticlesFactory.com
ABOUT THE AUTHOR
The overwhelming majority of people opt for standard or ‘level’ lifetime